4.3% growth… now we wait for carbon tax Armageddon

If Armageddon is coming thanks to the carbon tax, then business investment would have tailed off many months ago. All of which makes the recent GDP figures very hard for Tony Abbott to explain.

The carbon tax begins in less than a month. Apparently that means we are on the verge of economic Armageddon. Considering we’ve known since June last year about almost all of the parameters for the carbon tax, you’d think that with such a disastrous economic calamity awaiting us, business would have curtailed investment well in advance. After all, most business investment tends to take several years to pay itself off.  Indeed, in light of the European debt crisis and insipid growth in the US, you’d think that unemployment should be skyrocketing and economic growth ebbing away.


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